I have been long digital currency since February 2015, and I wrote about it in an article to my followers nearly 3 years ago. It is difficult to read my own work (as often is the case with writers), but it is important to look back on why I made the investment in the first place and the rationale associated with it.

I reasoned that..

” Once the consumer digital wallet gains acceptance, many forms of payment and barter will exist…didn’t everyone see “Waterworld” with Kevin Costner when he utilizes his currency and trades a small plant for water, booze and the girl? Sure, it won’t be exactly like that, but the concept is far from novel ..”

I bought Bitcoin shortly after this 2015 article and committed whatever available cash I had on hand. I kept this investment from my original purchase price of $238 and swapped it into Ethereum in February 2017 selling Bitcoin at $1170, and buying Ethereum at $15.37 dollar for dollar. I have kept the position, and often regretted swapping at all, but as an experienced trader I knew (and know) enough not to look back.

I noticed today that the Ethereum price chart is lulling investors to sleep before it heads higher. It is my view that the price target for Ethereum is $753 per coin, (it is trading $282 at the time of my writing) and I expect it to reach this price target in 2018. I also think the price of Ethereum will eventually reach $1014 before it completes it’s full upside move. If you are a technical trader you do the math. I think my numbers are right, and I do not intend to sell until it reaches the first objective of $753 where I will take some profits from the original trade that began in February 2015.

Unfortunately technical analysis is a methodology about price – not time. But I see spending these dollars in my life time. If you take nothing away from this observation, take away the fact that investing needs to be a buy and hold long only strategy. If not you lose money to the house over trading. Investing needs to be unemotional – easier said than done.

Investing in digital currency will be a volatile investment, and if you are not playing the long game you will lose. You can email me directly once you sign up for our Newsletter, happy to explain my thinking on digital currencies- but I am easy to follow and understand because I have written about my positions from the start, and anyone who knows me knows I have price targets in digital currencies much higher than the current levels. They told me I was crazy in February 2015, and probably say I am crazy today, and maybe I am. But I don’t think so…..

Steve Kanaval

Portfolio Manager/Writer/ Market Analyst

Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve is one of the few managers who publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets.